Chevrolet Corvette Insurance Rates

Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

Estimated insurance prices for a Chevrolet Corvette are $1,790 every 12 months for full coverage insurance. Comprehensive costs approximately $494 each year, collision costs $922, and liability coverage costs around $264. Liability-only insurance costs as low as $312 a year, with high-risk driver insurance costing around $3,870. Teens pay the most at $6,090 a year or more.

Average premium for full coverage: $1,790

Premium estimates by type of coverage:

Prices are based on $500 policy deductibles, 30/60 liability limits, and includes additional medical/uninsured motorist coverage. Rates include averaging for all 50 states and Corvette models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live has a large influence on the price of auto insurance. Rural locations are statistically proven to have more infrequent physical damage claims than cities with more traffic congestion.

The graphic below illustrates how geographic area affects auto insurance prices.

These rate differences illustrate why all drivers should compare prices using their specific location and their own driving history, rather than using averaged prices.

Use the form below to get customized rates for your location.

Additional Rate Analysis

The chart below illustrates estimated Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The cheapest rate after discounts is $977
• Using higher $1,000 deductibles will save $320 each year
• The average price for a 40-year-old good driver who chooses $500 deductibles is $1,790
• Selecting low deductibles for physical damage coverage increases the price to $2,418
• Higher-risk drivers with serious driving violations could pay around $3,870 or more
• An auto insurance policy to insure a teenage driver can cost $6,090 or more

View Chart as Image

Insurance prices for a Chevrolet Corvette also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model of your Corvette.

Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $950 a year, whereas increasing liability limits will push prices upward. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $237 more each year. View Rates by Deductible or Liability Limit

More mature drivers with no violations or accidents and higher deductibles may only pay around $1,600 a year, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers should be prepared to pay in the ballpark of $6,000 a year. View Rates by Age

If you have a few violations or you were responsible for an accident, you are probably paying anywhere from $2,100 to $2,800 additional annually, depending on your age. Insurance for high-risk drivers can be around 46% to 132% more than the average policy. View High Risk Driver Rates

Where you choose to live has a huge impact on Chevrolet Corvette insurance rates. A driver around age 40 might see prices as low as $1,170 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,410 on average in Florida, New York, and Michigan.

View Chart as Image

With such a large range in prices, the only way to figure out who has the best car insurance prices is to do a rate comparison and see how they stack up. Each insurance company calculates prices differently, and prices will be substantially different.

Insurance Rates by Trim Level and Model Year

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Shop for Affordable Chevrolet Corvette Insurance

Finding better rates on auto insurance requires being safe and accident-free, having above-average credit, paying for small claims out-of-pocket, and qualifying for all possible discounts. Invest the time to compare rates at every policy renewal by obtaining price quotes from direct insurance companies, and also from local insurance agencies.

Below you'll find a brief review of the data presented in the illustrations above.

• Consumers who purchase more liability protection will pay approximately $290 annually to increase from 30/60 bodily injury limits to a 250/500 level
• It is possible to save around $230 per year simply by quoting online in advance
• Increasing policy deductibles could save as much as $950 each year
• Youthful drivers are the costliest to insure, with premiums being up to $508 per month if full coverage is included

How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.

The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.

It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.

Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.

What are the safety ratings of the Chevrolet Corvette?

Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.

However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.

How does the Chevrolet Corvette compare against other vehicles in the same class?

The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.

The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.

If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.

• Ford Mustang GT Insurance Rates
• Mercedes-Benz SL Class Insurance Rates
• Nissan 370Z Insurance Rates

Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.

References

1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model